Loading…
Analysts in a Reuters poll cut their Canadian dollar forecasts as the coronavirus pandemic threatens a deep recession in Canada. The loonie has fallen more than 8% since the start of the year, hit by the outbreak and an oil price war.
A weaker loonie is expected to persist, which tends to make Canadian-sourced commodities cheaper for foreign buyers while signaling weaker domestic demand.
financialpost.comReutersApr 3, 2020Not enough comparable past events yet for a historical read.
After 565 past bearish macro events, Crude Oil (WTI) moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
